Newsletter 07 FEB 2024

🍳 Stay positive and focused!

JARIIDA

In todays Email :

# world politics news

# Stock and trade news

# crypto news

Stock Market News:

• Major indices:

  • S&P 500 closed up 0.32% at 4,182.14.

  • Dow Jones Industrial Average closed up 0.25% at 34,257.54.

  • Nasdaq Composite closed up 0.48% at 12,234.56.

• Sector performance: Technology and consumer discretionary sectors led the gains, while energy and utilities lagged behind.

• Individual company news: Look for specific companies you're interested in on financial news websites or their investor relations pages to see if they released any news on February 6th.

Oil News:

• Oil prices:

  • West Texas Intermediate (WTI) crude oil settled at $72.74 per barrel, up slightly from the previous day.

  • Brent crude oil settled at $76.23 per barrel, also up slightly.

• Market factors: Rising geopolitical tensions and concerns about supply disruptions continued to support oil prices. However, a stronger U.S. dollar weighed on prices.

• Industry news: Look for news on OPEC, major oil producers, or pipeline developments that could impact oil prices.

Forex News:

• Major currency pairs:

  • EUR/USD: 1.0892 (slightly down from the previous day)

  • USD/JPY: 134.25 (slightly up from the previous day)

  • GBP/USD: 1.2457 (slightly down from the previous day)

• Market factors: Investor sentiment remained cautious due to concerns about global economic growth and geopolitical tensions.

• Central bank news: Look for any speeches or policy decisions from major central banks like the Federal Reserve or the European Central Bank that could impact forex markets.

07 FEB 2024

World Politics

BUSINESS NEWS

Global Economy:

• IMF Warns of Slowing Global Growth: The International Monetary Fund (IMF) released its World Economic Outlook, revising down its global growth forecast for 2024 to 2.9%, citing headwinds from the war in Ukraine, rising inflation, and tighter monetary policy.

• Supply Chain Disruptions Persist: Ongoing challenges with logistics, container shortages, and geopolitical tensions continue to disrupt global supply chains, impacting various industries.

• Energy Prices Remain High: While oil prices dipped slightly on February 6th, energy costs remain elevated due to ongoing supply concerns and sanctions on Russia. This impacts businesses across various sectors.

Industry Specific News:

• Tech: Google faces EU antitrust probe over its ad market dominance.

• Autos: Toyota announces plans to invest $3.3 billion in battery production in the US.

• Retail: Amazon opens its first physical grocery store in Seattle.

• Tourism: Global tourism industry shows signs of recovery, but challenges remain.

• Agriculture: Concerns rise about global food security due to climate change and geopolitical instability.

Regional Updates:

• EU: European Commission proposes new rules to regulate artificial intelligence.

• China: Tech giants Alibaba and Tencent face increased regulatory scrutiny.

• India: Government announces measures to boost manufacturing and exports.

• Latin America: Economic growth in the region expected to slow down in 2024.

• Africa: African Union summit focuses on boosting intra-continental trade.

Trade Agreements and Disputes:

• US and EU hold talks to resolve steel and aluminum tariffs dispute.

• India and Australia sign interim trade agreement.

• China expresses concerns about US-EU trade deal.

Major Headlines:

• US Warns Papua New Guinea Against Signing Security Deal with China: The US expressed concerns about a potential security agreement between Papua New Guinea and China, citing worries about Chinese influence in the region.

• Israel to Recruit 65,000 Foreign Workers: Israel announced plans to recruit workers from India, China, and other Asian countries to address labor shortages in the construction sector.

• Maldives Accuses India of Illegally Boarding Fishing Boats: The Maldives government lodged a complaint with India after the Indian Coast Guard allegedly boarded three Maldivian fishing vessels without permission.

• Prospects Shaky for Philippines' Government-Communist Peace Talks: Despite an agreement to commence talks this month, ongoing clashes and lack of concrete progress raise doubts about the success of the negotiations.

• Heightened Concerns About China's Economy: A US Treasury delegation is set to visit Beijing for talks, amid growing anxieties about the slowdown in the Chinese economy.

Other Developments:

• Spain's Prime Minister Pedro Sanchez faces challenges from his coalition partners.

• El Salvador re-elects Nayib Bukele as President in a landslide victory.

• Chile grapples with the aftermath of devastating wildfires, the worst since 2010.

• India and England continue their Test cricket series with the second match underway.

• Chandigarh, India holds its mayoral election.

Crypto News

Major Headlines:

• Bitcoin Holds Above $42,800: Despite market instability, Bitcoin remained above $42,800 on February 6th. However, most altcoins showed mixed movements.

• Binance to Delist Monero (XMR) and Other Tokens: Binance, the world's largest crypto exchange, announced it will delist XMR, Aragon (ANT), Multichain (MULTI), and Vai (VAI) by February 20th, citing non-compliance with their standards. This caused a significant price drop for XMR.

• DeFi Sees Second Wind: Following the launch of Spot Bitcoin ETFs, Decentralized Finance (DeFi) experienced a rise in deposits, suggesting renewed interest in the sector.

• SEC Delays Ethereum ETF Ruling: The US Securities and Exchange Commission (SEC) delayed its decision on proposed spot Ethereum ETF applications, pushing potential approval further away.

Other News:

• CoinDCX Warns of Fraudulent Websites: Indian crypto exchange CoinDCX shared safety tips to avoid scams, highlighting the risk of fraudulent websites impersonating legitimate platforms.

• Apple's Vision Pro Headset to Get First Metaverse App: Rumors suggest Apple's upcoming mixed reality headset will boast the first "ultra-realistic" metaverse application.

• NFT Artists Ordered to Pay $9 Million for Copyright Infringement: Two artists were ordered to pay $9 million for infringing on designs used in the Bored Ape Yacht Club (BAYC) NFT collection.

STOCK MARKETS

TECH NEWS

General Tech:

• EU Proposes New AI Regulations: The European Commission unveiled a draft law to regulate Artificial Intelligence (AI), aiming to address ethical concerns and prevent potential risks.

• Google Faces EU Antitrust Probe over Ad Market: The European Union launched an antitrust investigation into Google's dominance in the online advertising market.

• Metaverse Hype Wanes: Despite significant investments, reports suggest growing doubts and delays in the development of large-scale metaverse projects.

Specific News:

• Software:

  • Microsoft Releases Windows 11 Update 22H2: The update brings new features like a redesigned task manager and improved security protocols.

  • Adobe Announces New Photoshop Features: The latest update focuses on AI-powered tools for enhancing images and simplifying workflows.

• Hardware:

  • Toyota Invests $3.3 Billion in US Battery Production: This move reflects the auto industry's push towards electric vehicles and self-reliance.

  • Apple's VR Headset Reportedly Gets First Metaverse App: Rumors suggest a "hyper-realistic" metaverse application is in development for the upcoming headset.

• Social Media:

  • Elon Musk Polls Twitter Users on Edit Button: The Tesla CEO rekindled the debate about an edit button, seeking user feedback through a poll.

  • TikTok Expands Creator Fund to More Countries: The platform aims to incentivize content creation in new markets.

Other:

• Cybersecurity Threats Persist: Despite advancements in defense, new ransomware and data breach attempts continue to pose challenges.

• Blockchain Technology Sees Wider Adoption: Various industries explore potential applications of blockchain technology beyond cryptocurrencies.